An appeal by the Motor Insurers Bureau of Ireland (MIBI) against a High Court ruling that it must pay out on outstanding claims following the collapse of the Setanta Insurance Company two years ago has opened before the Court of Appeal. The MIBI is appealing Mr Justice John Hedigans finding that it was liable to…
B.C.-based Standard Tolling (TSXV:TON, Forum) turned into a half-penny stock Tuesday as trading resumed following their unsuccessful fight to stave off insolvency. The company lost 85.5% of its value in hitting the minimum price allowed on the Venture Exchange of $0.005, as trading resumed just four days after recruiting a new director in a bid to…
The federal governments plan to reduce the period of bankruptcy from a minimum of three years to one year, announced in Decembers Innovation Statement, has been criticised for allowing debtors to avoid the consequences of their misconduct. But this view misunderstands the role of bankruptcy law in a modern economy and arguably conflates the role…
In Australia, there is a lingering belief that bankruptcy should not be too easy. The federal governments plan to reduce the period of bankruptcy from a minimum of three years to one year, announced in Decembers Innovation Statement, has been criticised for allowing debtors to avoid the consequences of their misconduct. But this view misunderstands…
Kevin and Ian, both in their 50s, have appeared in bankruptcy court lists The two brothers are said to owe money to a company called DCF (UK) Ltd Comes just weeks after their older sister Isabel, a 65-year-old former dotcom millionaire, was declared bankrupt in an order at the High Court Media tycoon’s children have…
Significantly more businesses went under last year compared to 2014, led by a rise in company failures from NSW. With 9,573 businesses having gone into administration up to November last year, the numbers for 2015 have already eclipsed 2014’s total of 8,794 companies slipping under, data from the Australian Securities and Investments Commission shows. NSW…
More businesses go under in 2015 Significantly more businesses went under last year compared to 2014, led by a rise in company failures from NSW. With 9,573 businesses having gone into administration up to November last year, the numbers for 2015 have already eclipsed 2014’s total of 8,794 companies slipping under, data from the Australian…
When President Barack Obama was elected in November 2008, the U.S. economy was shrinking at a rate unmatched since World War II. In the seven years between then and his final State of the Union address Tuesday night, global investors have enjoyed stellar results from the rapidly expanding Obama economy. Unemployment Falls Most Since 1980s…
Jan 11 – Executives of a failed North Carolina bank have reached a $4.1 million settlement with the Federal Deposit Insurance Corp, resolving a closely watched lawsuit accusing them of approving risky loans that led to heavy losses during the credit crisis. If approved by the court, the settlement-in-principle, disclosed in a federal court filing…
It is not cool in Australia to blow your own trumpet, right? But what do you do when you know certain competitors are failing to do proper investigations for their clients with credit impairments and your company continually picks up the pieces? To be frank, I am amazed that some clients trust us at all…